Dec 11 2024: South Africa’s annual consumer inflation rose slightly to 2.9% in November from 2.8% in October, remaining below the South African Reserve Bank’s (SARB) target range of 3% to 6%, according to data released on Wednesday by the statistics agency.
The figure fell short of economists’ expectations, who had predicted an acceleration to 3.1%, aligning inflation within the central bank’s target band.
The SARB recently lowered its main lending rate for the second consecutive meeting after inflation dipped below the target range in October for the first time in years.
On a monthly basis, inflation held steady at 0.0% in November, following a slight decline of -0.1% in October.
